STX is making a big push into digital. The company has just pacted with Toronto-based interactive media company The Young Astronauts to co-produce and develop original short-form content for music and celebrity talent and brands. Young Astronauts creates a wide range of short-form, digital and video content for major stars, online influencers and corporations — Ariana Grande, Bruno Mars, Drake, Republic Records, Live Nation, Red Bull and Nike, among dozens of others.
The move comes only about nine months after STX entered into an agreement with Chinese company Tencent and Hong Kong telecom giant PCCW (about two months ago) in what was an equity play to grow its operations, in part, in digital platforms. Tencent is one of the largest Internet companies in the world with holdings also in media, entertainment, and mobile phones service (it’s valued at around $200B). PCCW has the largest pay-TV service in Hong Kong and STX is gearing up to provide feature films through their TV and digital channels and OTT services in Hong Kong, India and Southeast Asia.
Young Astronauts, which was co-founded by Nev Todorovic and Tyler Savery in 2010, will work with STX and provide its full range of resources and production capabilities to enable some of the world’s biggest artists, celebrities and brands to create talent-driven content across multiple platforms and formats, including apps, websites, streaming platforms and social media